Hi all,

FYI.. See link.

When the market opened this morning Netflix was up about a buck, but they did mention that Netflix is down approx 50% since the announced the 60% raise. Therefore I agree with the article I'm posting below...not just have they lost a million customers in only 120 days and in this awful economy, (it's nuts to raise any fees right now people are going from steak to Canned Tuna for dinner and he raises it 60%)....they rubbed everyone's face in it with the pseudo apology, (I understad that there was a small fee increase nto to much before the 60% increase).

They also went on the say that the "apology" went over so poorly that they expect an entire new wave of cancellations of memberships...

I haven't had Netflix since just before my Father passed away, (he was without a doubt the world's best Father), so that's over 7.5 years ago so there wasn't a streaming video issue back then.

All of my friends who were with Netflix when the 60% raise was annouced, quit that day and went on to other firms. They each made a point of mentioning that the streaming division which the founder seems to be putting all is faith into has a very poor selection of streaming video, so your kind of forced to keep both memberships, now with two website and two lists.

Take care,

Jay

PS the comments listed on Zdnet seem to agree with me...

Netflix's mea culpa disaster: 'Seems like a panic move'
By Larry Dignan | September 20, 2011, 9:13am PDT

Netflix's mea culpa disaster: 'Seems like a panic move' | ZDNet

Summary: Netflix’s apology to customers went over like a lead balloon. Analysts say Netflix looks like it’s panicking over backlash to pricing changes.

Netflix CEO Reed Hastings issues a mea culpa to customers and continues to be pounded over the head with it.

Late Sunday, Hastings delivered his apology and said that it will separate its DVD by mail service under the Qwikster moniker. The move was panned by widely panned by customers.

As analysts handicap the move, the consensus appears to be that Hastings and Netflix panicked after losing DVD customers and facing a backlash to its pricing changes. Indeed, a Frank N. Magid Associates survey found that 30 percent of customers are planning or at least pondering a Netflix exodus.